Two phase flows can be found in broad situations in nature, biology, and industry devices and can involve diverse and complex mechanisms. While the physical models may be specific for certain situations, the mathematical formulation and numerical treatment for solving the governing equations can be general. Hence, we will require information concerning each individual phase as needed in a single phase. but also the interactions between them. These interaction terms, however, pose additional numerical challenges because they are beyond the basis that we use to construct modern numerical schemes, namely the hyperbolicity of equations. Moreover, due to disparate differences in time scales, fluid compressibility and nonlinearity become acute, further complicating the numerical procedures. In this paper, we will show the ideas and procedure how the AUSM-family schemes are extended for solving two phase flows problems. Specifically, both phases are assumed in thermodynamic equilibrium, namely, the time scales involved in phase interactions are extremely short in comparison with those in fluid speeds and pressure fluctuations. Details of the numerical formulation and issues involved are discussed and the effectiveness of the method are demonstrated for several industrial examples.